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20121222
20121222
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native hawaii for a short christmas break. we'll have a live report from hawaii and the latest on the fiscal cliff talks a few minutes as well. >>> it's official. bp oil company will pay up to the tune of $7.8 billion. that is a class action settlement amount they agreed to pay, about 100,000 businesses and individuals hurt by the biggest oil spill in american history. a federal judge formized the settlement yesterday. a lot of gulf coast residents opted out of the class action suit and are pursuing lawsuits on their own. >>> in egypt today, more effects of a brand-new government's growing pains. the vice president is out. he is stepping down there. this man, mahmud mechanicy announced political life does not agree with him, and he'll go back to being a judge. it's the same day the egyptian people are voting for a second straight weekend on proposed changes to the country new islamist backed constitution. egypt's new president gave himself near absolute power. >>> a former u.s. marine who spent four months in a mexican prison is free today. jon hammer was locked up in august on
in hawaii where the president is spending the christmas holiday. brianna, the president maybe a little too optimistic that a deal can be reached? aloha, by the way. >> he did say last night that he is a hopeless optimist that something can get done, but what we know, it's not going to be that big package, obviously of deficit reduction as well as dealing with these tax hikes that are set to kick in. that's not what's going to be happening, instead, he's pressing for something smaller just to a deal with stopping those tax hikes from kicking in for americans making $250,000 per year or less. and also trying to make sure that unemployment benefits are extended. listen to what president obama said last night and also listen to what some of the house republican resistance from speaker boehner to his sort of short-term plan here. >> in the next few days, i've asked leaders of congress to work towards a package that prevents a tax hike on middle class americans, protects unemployment insurance for 2 million americans, and lays the groundwork for further work on both growth and deficit reduction.
obama is calling on both sides to find a compromise. >> before heading off to hawaii to celebrate christmas, president obama tried to give lawmakers something to think about on their own holiday break. >> think about the obligations we have to the people. >> nine days before the fiscal cliff and not a creature was stirring in washington. negotiations at an impasse. the president says he hopes the holiday spirit will inspire a change of heart. >> they can drink some eggnog and have some christmas cookies. >> republicans say the president's deal is too hard to swallow. >> it would hurt jobs. >> speaker boehner's plan to raise taxes on americans making more than $1 million a year was scuttled by fellow republicans. it is dead in the water with senate democrats. president wants to lock in tax cuts for 98% of americans. some house republicans refused to raise taxes on anyone. for a few days, both sides are setting aside politics. >> i wish all of the american people in a blast and merry christmas. >> merry christmas, ever ready. >> happy hollow -- happy holidays. >> the president and s
includes the employed and those looking for jobs. >>> president obama is spending the holidays in hawaii. they boarded air force one tonight to head to his home state. but not before president obama acknowledged that no deal has been made to avoid the fiscal cliff. coming up, the president's message to congress today in hopes of avoiding tax hikes and spending cuts. >>> different solution to gun violence. what this man says it is time to do about guns and his push to make it happen. >> a foot of new snow in the sierra, the storm that caught drivers off guard. >> and our coverage continues, mark tamayo will have the already forecast. forecast-- will have the holiday forecast. Ño [ bells ] >>> the names of each victim killed in the connecticut school shooting at sandy hook elementary school in newton, connecticut were read today. mourners observed a moment of silence to mark one week. many gathered in the rain outside the school to pay respects. >>> the head of the national rifle association layed out a plan to stop the killings. ktvu's eric rasmussen found one man who is leading a differ
in hawaii, where they will spend christmas. but it is not all folly and mistletoe as the president has won each on fiscal cliff negotiations, which are stalled, as washington shut down for a holiday. mr. obama expects to return to work right after christmas. before heading to hawaii. he warned it's time for party leaders to take action. karen caifa reports from washington, where members of congress have also left town. >> the next few days i have asked leaders of congress to help work out a package. this will protect unemployment for millions of americans. >> remarks came after john boehner failed to muster up -- >> we had a number of our members who just did not want to be perceived as raising taxes. >> the two sides both left for christmas holiday and they blamed each other for not acting. they stated that more action is needed from the gop. >> we will need to have a bipartisan solution. >> the next move will need to call from the present. >> he is the only one who could door. this is not john boehners problem to solve. >> in washington, i am karen caifa. >> and now to connecticut were n
their profits. >>> president obama's in hawaii today where he and the first family will spend christmas. but the president says he will return to the white house after the holiday to continue working on a deal to avoid the fiscal cliff. joining me now, white house editor from politico, rachel smolkin. good to see you. >> good to see you. >> holiday red there, rachel. i will begin with you. is there any realistic timetable where a deal gets done beforian 1? look at the calendar. >> there's a realistic timetable but not an optimistic timetable. not a lot of holiday cheer going on in the nation's capital. after the stunning is heback speaker boehner suffered this week in the house where he could not get his own plan through. had to pull it and because he didn't have the votes. we saw president obama acknowledge yesterday before leaving for his vacation that the deal would -- would dramatically narrow. the parameters of a deal, scope of any possible deal, much smaller than we were looking at even a week ago. he said he would still be open to the big deal but the reality is we are running ou
family arrived in hawaii just a short time ago. the president and lawmakers are expected to return thursday after the christmas break. before leaving washington, mr. obama and house speaker john boehner both expressed hope that a deal will actually get done. >> we can't cut our way to prosperity. we need real economic growth. many of us believe on both sides of the aisle that the fundamental reform of our tax code will help us get our economy moving faster and put more americans back to work. and more americans on -- how we get there, god only knows. >> i asked for a compromise from members of congress, i met them more than halfway on spending and met them halfway on taxes. in terms of actual dollar amounts, we're not that far apart. as of today, i am still ready and willing to get a comprehensive package done. >> but time is running out. to reach an agreement, there are now just ten days left until automatic tax hikes and spending cuts do take effect. the s&p 500 and the nasdaq finished in some negative territory for the day. investors fear the country could slide back into recess
to tell you, a few minutes ago, president obama landed in hawaii, 72 degrees there was the temperature on the ground. certainly warmer than it is in washington, certainly warmer than the political climate that president obama left behind here here in washington. it was a strip down agreement. he basically is saying we have to come up with some solution to help the majority of american taxpayers while we still avoid coming up with the majority of the details for what was supposed to help us avoid the fiscal cliff. it would ensure tax rates would not go up for 98% of americans, it would also ensure that unemployment benefits would be extended for about 2 million americans who would lose them otherwise if we went over the fiscal cliff. finally, it would work to lay the groundwork for the larger reform. so if we're looking for specific details here, not a whole lot of them. this is coming up with almost an emergency solution. we know that president obama did speak by phone with speaker john boehner yesterday, met at the white house with democrat harry reid. however, publicly what is being
this holiday in hawaii. this is new video of them arriving at the air force base from overnight. the president said he will be back in washington next week to deal with the budget but he is not the only one leaving town. republicans and democrats, senators and representatives all headed home for the holidays before reaching any agreement on ways to avoid end of the year tax hikes and budget cuts. the house speaker used the gop weekly address to say republicans will maintain their focus on reaching a deal. >> i have challenged the members of our party to grapple with these issues, to make choices and we are willing to because washington has a serious spending problem. this was the year of the size our debt, all 16 trillon dollars of it passed the size of our economy. it's a grim milestone. >> both sides continue to blame the other for not compromising. with no agreement the budget cuts and tax hikes will go into effect january 1st. >> it's more likely than ever that eastern and gulfports will be shut down by a strike. nearly 15,000 dock workers at ports from boston to houston are ready to wa
, d.c. for the holiday. before he left for hawaii president obama issued a stern request to congressional leaders to approve legislation before the end of the year. >> once this legislation has agreed to i expect democrats and republicans to get back to washington and have it pass both chambers. i will immediately sign that legislation into law before january 1st of next year. >> the president was referring to legislation that would prevent a middle class tax hike and would protect unemployment insurance. he spoke after talking by phone with house speaker john boehner and meeting with senate majority leader. >>> the dow industrials dropped 120 points. the nasdaq fell 29. we also saw a number of conflicting economic reports that experts say suggests the economy is not sure where it's going top our consumer editor tom vacar is in san francisco's financial district with some explanations. >> reporter: there are two winds. those that are blowing and the much more important economic cross winds. for the overall economy most critical shopping days are ahead of us. >> i'm very c
is in the nation's capital this morning. so president obama's in hawaii. house speaker john boehner and other lawmakers have gone home for the holidays. what does all this mean for the chance of getting a deal done before the deadline? >> reporter: no doubt that president obama went to a warmer climate with the weather and probably a warmer climate politically. if there's any negotiating that will be done now, it will have to be done long distance for the next few days. we know that speaker boehner and president obama spoke in washington yesterday before they left. but when you hear their final words to reporters, it shows there is a continued public divide. >> the president and senate democrats have vowed to reject and veto all of our proposals while failing to offer responsible solutions of their own. but the president has -- what the president has offered so far simply won't do anything to solve our spending problem and begin to address our nation's crippling debt. >> in the next few days, i've asked leaders of congress to work toward a package that prevents a tax hike on middle-class amer
is it's less than two weeks until the new year, the president's about to leave for hawaii in less than 15 minutes he leaves the white house, soledad. and congress is going to be gone for christmas too. and there is no more effective motivator for capitol hill than pressure and they have it right now. what the president has done today is he's laid out a scaled-down version of a fiscal cliff deal. you know, keeping tax cuts in place for 98% of americans, extending unemployment insurance, and laying out a plan, a down payment on a promise to do entitlement reform. and then he also made a pitch to the american people to only blame republicans frls no deal. so it's a two-pronged attack that he makes right before taking off on vacation. so right now, you know, the plan is basically to keep the pressure on. and we know both sides are planning to come back at some point after christmas and try to get something worked out. but no overt optimism coming really from the aides on either side right now. and we'll see, soledad. i'll tell you, folks right now are planning to make new year's eve plans
flee the break that's next. just before departing for his annual holiday vacation in hawaii, president obama leaders to take action on crisis. karin caifa reports from washington, where members of congress have also left town. >> good afternoon, everybody. >>reporter: after speaking with party leaders friday afternoon, president obama called on congress to quickly come up with a solution to avert some end- of-year tax hikes associated with the fiscal cliff. >> in the next few days i've asked leaders of congress to work towards a package that prevents a tax hike on middle class americans, protects unemployment insurance for 2 million americans and lays the groundwork for further work on both and deficit reduction. >>reporter: the remarks came after house speaker john boehner failed to muster enough of his party's support to bring his "plan b" to the floor. his proposal would have effectively raised taxes only on those americans making more than one million dollars a year. >> we had a number of our members who just really didn't want to be perceived as having raised taxes. >>reporter: th
Search Results 0 to 12 of about 13